Automotive Commercial Vehicles Emergency Braking System Market to Grow with a CAGR of 13.5% Globally through to 2028.
Regulatory Mandates and Safety Standards, Enhanced
Focus on Fleet Safety, Technological Advancements, and Insurance Premium Reductions
are factors driving the Global Automotive Commercial Vehicles Emergency Braking
System market in the forecast period 2024-2028.
According to TechSci Research report, “Global Automotive
Commercial Vehicles Emergency Braking System Market - Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the Global Automotive
Commercial Vehicles Emergency Braking System Market stood at USD 13 billion in
2022 and is anticipated to grow with a CAGR of 13.5% in the forecast period,
2024-2028. The
Global Automotive Commercial Vehicles Emergency Braking System Market is
experiencing a transformative evolution, revolutionizing safety standards in
the commercial vehicle sector. This market segment is dedicated to preventing
accidents and mitigating their severity through the integration of advanced
emergency braking systems, also known as Autonomous Emergency Braking (AEB) or
Collision Avoidance Systems. At the heart of these systems are an array of
sophisticated sensors, including radar, LiDAR, cameras, and ultrasonic sensors,
which work in harmony to continuously monitor the vehicle's surroundings. These
sensors feed real-time data to complex algorithms, enabling the system to
swiftly detect potential collision risks with pedestrians, cyclists, other
vehicles, or obstacles in the vehicle's path. The result is an instantaneous
decision-making process that initiates automatic braking when an imminent
collision is foreseen. The market's growth is primarily driven by the paramount
concern for road safety. Governments worldwide are mandating stricter safety
standards and regulations for commercial vehicles, compelling manufacturers to
prioritize advanced safety technologies like emergency braking systems.
Browse over market data Figures spread through 180
Pages and an in-depth TOC on "Global Automotive
Commercial Vehicles Emergency Braking System Market.”
The Global Automotive Commercial Vehicles Emergency
Braking System Market represents a dynamic and transformative segment within
the automotive industry, dedicated to enhancing safety and preventing accidents
in commercial vehicles. These systems, often referred to as Autonomous
Emergency Braking (AEB) or Collision Avoidance Systems, have emerged as a cornerstone
of modern commercial vehicle safety, employing cutting-edge technology to
mitigate accident severity or entirely prevent collisions.
At the core of these systems lies a complex network of
sensors, including radar, LiDAR, cameras, and ultrasonic sensors, which work in
concert to continuously monitor the vehicle's surroundings. This real-time data
is fed into advanced algorithms, enabling the system to rapidly identify
potential collision risks with pedestrians, cyclists, other vehicles, or obstacles
on the road. The result is a swift and decisive response, with the system
initiating automatic braking when an imminent collision is anticipated.
The most influential driver for this market is the
implementation of stringent regulatory mandates and safety standards by
governments and authorities across the globe. In a concerted effort to enhance
road safety and minimize the severity of accidents involving commercial
vehicles, regulatory bodies have introduced comprehensive regulations mandating
the integration of advanced safety systems, with emergency braking systems at
the forefront. These regulations impose specific safety requirements and
performance criteria on commercial vehicle braking systems. Compliance with
these standards is not just a legal requirement but also a critical aspect of
safeguarding an automaker's reputation. As a result, manufacturers are
compelled to incorporate advanced emergency braking systems into their
commercial vehicles, thereby propelling the growth of this market.
A growing emphasis on fleet safety represents another
significant driver of the Global Automotive Commercial Vehicles Emergency
Braking System Market. Commercial fleets play an indispensable role in various
industries, including logistics, transportation, and construction, making the
safety of these vehicles and their drivers a top priority for businesses. Fleet
operators have come to recognize the immense value of emergency braking systems
in preventing accidents, reducing insurance costs, and safeguarding their assets
and workforce. Consequently, they actively seek commercial vehicles equipped
with advanced emergency braking technology.
Rapid technological advancements are a pivotal driving
force in the Global Automotive Commercial Vehicles Emergency Braking System
Market. These systems have evolved significantly over the years, thanks to
advancements in sensor technologies, artificial intelligence, and machine
learning. Modern emergency braking systems rely on a myriad of sensors, such as
radar and LiDAR, to distinguish between different objects and accurately
estimate their distance and relative velocity. These sensors provide invaluable
information about the vehicle's surroundings, allowing the system to make
real-time decisions when detecting an impending collision.
The potential for insurance premium reductions serves
as a notable driver for the adoption of emergency braking systems in commercial
vehicles. Insurance companies recognize the safety benefits of these systems
and often offer discounts or lower premiums to fleet operators and commercial
vehicle owners who equip their vehicles with AEB technology. By reducing the
likelihood and severity of accidents, emergency braking systems can lead to
lower insurance claims and reduced costs for insurers. As a result, many
insurance providers encourage the installation of these systems as a risk
mitigation measure.
A growing concern for the safety of vulnerable road
users, including pedestrians and cyclists, plays a pivotal role in the adoption
of emergency braking systems in commercial vehicles. Rapid urbanization and
evolving transportation patterns have led to increased interactions between
commercial vehicles and these vulnerable road users, making accident prevention
a top priority. Emergency braking systems are designed to recognize the unique
movement patterns and characteristics of pedestrians and cyclists, enabling the
vehicle to respond swiftly to potential collisions. This capability aligns with
the evolving societal awareness of the need to protect vulnerable road users.
Major companies operating in Global Automotive Commercial
Vehicles Emergency Braking System Market are:
- Robert Bosch GmbH
- Continental AG
- ZE Friedrichshafen AG
- Delphi Automotive LLP
- Hyundai Mobis
- Aisin Seiki Co. Ltd
- Hitachi Automotive System Ltd.
- Mando Corporation
- Netradyne
- Valeo S.A.
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“The Global
Automotive Commercial Vehicles Emergency Braking System Market is at the forefront
of safety innovation in the commercial vehicle industry. These systems,
equipped with advanced sensors and algorithms, continuously monitor the
vehicle's surroundings, swiftly detecting potential collision risks with
pedestrians, cyclists, vehicles, or obstacles. The market's growth is driven by
stringent safety regulations, a heightened focus on fleet safety, technological
advancements, insurance incentives, and an increasing concern for vulnerable
road users. Commercial vehicle manufacturers and fleet operators are
recognizing the immense value of these systems in accident prevention, cost
reduction, and overall road safety enhancement. As the market continues to
evolve, it promises to play a pivotal role in minimizing accidents, protecting
lives, and elevating the safety standards of commercial vehicles globally.,”
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Automotive
Commercial Vehicles Emergency Braking System Market – Global Industry Size, Share, Trends,
Opportunity, and Forecast, Segmented By Sensor Type (Camera, Lidar, Radar), By Technology
(Forward Collision warning, Dynamic brake support, Crash imminent braking), By
Region, By Competition,
2018-2028”, has evaluated
the future growth potential of Global Automotive Commercial Vehicles Emergency
Braking System Market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Automotive Commercial
Vehicles Emergency Braking System Market.
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